Nike (NKE) Q2 2026 earnings

Nike It is expected to report earnings after the bell on Thursday as Wall Street eyes the company’s progress in reigniting its business.

The sneaker company is a little more than a year into CEO Elliott Hill’s turnaround strategy, focusing on regaining its growth and market share, liquidating old inventory and investing in wholesale relationships.

Here’s what analysts expect for Nike’s fiscal second quarter of 2026, according to consensus estimates from LSEG:

• EPS: Expected 38 cents
• profit: Expected $12.22 billion

The company is scheduled to hold a conference call with investors at 5 p.m. ET as analysts look for a read on holiday demand. Nike stock is down more than 11% this year.

In Nike’s fiscal first-quarter earnings report, Hill reported some positive developments in the company’s turnaround, citing improvements in wholesale, operational and North American business. But Hill noted that other areas, such as the China sector and direct business, did not perform as well.

Nike expects these headwinds to continue into the new year.

Hill told CNBC in October that the company’s turnaround plan shows progress, but it “will take some time” to return to profitable growth.

The sneaker giant has also been affected by the tariffs. In September, the company said it expects the tariffs to cost it $1.5 billion and impact its gross margin by 1.2 percentage points in its current fiscal year 2026. That’s an increase from the $1 billion and 0.75 percentage points it expected earlier this year.

The company previously said it expects its second-quarter gross profit margin to decline between 3 and 3.75 percentage points.

Nike also underwent leadership changes to “peel back the layers,” according to Hill, earlier this month. Under the “Win Now” strategy, the company announced that chief commercial officer Craig Williams will leave the sneaker giant.

Hill described the change as a move “about growth and offense.”

“Collectively, these changes remove layers and better position Nike to continue making an impact in the way only Nike can,” Hill said in a statement at the time.

The company also announced a strong start to its NikeSKIMS partnership with Kim Kardashian’s clothing brand, which Hill previously said has seen a “very strong” response.